Oppenheimer Recommends Buying Questcor (QCOR) On Weakness

January 12, 2012 9:25 AM EST
Get Alerts QCOR Hot Sheet
Price: $93.60 --0%

Rating Summary:
    7 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Analysts at Oppenheimer came out to defend Questcor Pharmaceuticals (NASDAQ: QCOR) Thursday following yesterday's 15 percent drubbing ahead of a forthcoming negative report from TheStreetSweeper.org.

The firm "we believe these allegations are unfounded and would be buyers of the stock." There is no evidence to date that QCOR promotes Acthar for off-label indications, only for the 19 on-label indication, they also said.

"We would be buyers of QCOR on this weakness but expect this issue to present an overhang until further clarity is provided next week."

The firm maintained an Outperform rating and $53 price target on QCOR.

For an analyst ratings summary and ratings history on Questcor Pharmaceuticals click here. For more ratings news on Questcor Pharmaceuticals click here.

Shares of Questcor Pharmaceuticals closed at $35.34 yesterday.

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